Lithium Americas Corp. to Post Q1 2023 Earnings of ($0.14) Per Share, Cormark Forecasts (NYSE:LAC)

Posted by Defense World Staff on Apr 27th, 2023

Lithium Americas Corp. (NYSE:LAC – Get Rating) – Cormark issued their Q1 2023 earnings per share (EPS) estimates for shares of Lithium Americas in a report issued on Monday, April 24th. Cormark analyst M. Whale expects that the company will post earnings of ($0.14) per share for the quarter. The consensus estimate for Lithium Americas’ current full-year earnings is $0.58 per share. Cormark also issued estimates for Lithium Americas’ Q2 2023 earnings at $0.17 EPS, Q3 2023 earnings at $0.52 EPS, Q4 2023 earnings at $0.54 EPS, FY2023 earnings at $0.78 EPS and FY2024 earnings at $1.06 EPS.

Several other research analysts have also recently weighed in on LAC. National Bank Financial lowered their target price on Lithium Americas from $42.50 to $38.50 in a report on Monday, January 16th. B. Riley boosted their target price on Lithium Americas from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, February 8th. Deutsche Bank Aktiengesellschaft lowered their target price on Lithium Americas from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Thursday, April 20th. Pi Financial restated a “buy” rating on shares of Lithium Americas in a report on Wednesday, March 8th. Finally, National Bankshares boosted their target price on Lithium Americas from $38.50 to $42.50 and gave the stock an “outperform” rating in a report on Wednesday, February 8th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $38.13.

Lithium Americas Trading Down 0.6 %

LAC stock opened at $19.45 on Wednesday. The stock has a market cap of $2.94 billion, a price-to-earnings ratio of -27.81 and a beta of 1.47. The business’s 50-day moving average is $21.42 and its 200 day moving average is $22.63. Lithium Americas has a 12-month low of $17.58 and a 12-month high of $33.10. The company has a current ratio of 18.13, a quick ratio of 18.13 and a debt-to-equity ratio of 0.26.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc lifted its stake in Lithium Americas by 0.6% during the fourth quarter. Legal & General Group Plc now owns 65,285 shares of the company’s stock worth $1,237,000 after purchasing an additional 410 shares in the last quarter. Castle Wealth Management LLC raised its stake in shares of Lithium Americas by 100.0% in the third quarter. Castle Wealth Management LLC now owns 1,000 shares of the company’s stock valued at $26,000 after acquiring an additional 500 shares in the last quarter. CWM LLC raised its stake in shares of Lithium Americas by 47.9% in the fourth quarter. CWM LLC now owns 1,544 shares of the company’s stock valued at $29,000 after acquiring an additional 500 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Lithium Americas by 38.1% in the fourth quarter. Geneos Wealth Management Inc. now owns 1,829 shares of the company’s stock valued at $35,000 after acquiring an additional 505 shares in the last quarter. Finally, Spire Wealth Management raised its stake in shares of Lithium Americas by 37.9% in the fourth quarter. Spire Wealth Management now owns 2,000 shares of the company’s stock valued at $38,000 after acquiring an additional 550 shares in the last quarter. 21.88% of the stock is currently owned by hedge funds and other institutional investors.

About Lithium Americas

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Lithium Americas Corp. is a resource company, which engages in lithium development projects. Its projects include: Thacker Pass and Caucharí-Olaroz. The company was founded by Raymond Edward Flood, Jr. on November 27, 2007 and is headquartered in Vancouver, Canada.